2nd tranche of simple loans state program is offered to residents of Kazakhstan

Branch affiliates of BIPEK AVTO – AZIA AVTO begin applications gathering for simple automobile financing underneath the tranche that is second of automobile financing system. KZT 5.5 out of 11 billion extra funds supplied by the us government regarding the Republic of Kazakhstan are designated into the purchasers of AZIA AVTO.

Optimum expense associated with bought automobile is risen to KZT 9 million.

Branch affiliates of BIPEK AVTO – AZIA AVTO begin applications gathering for simple automobile financing beneath the tranche that is second of automotive loans system.

The federal government associated with Republic of Kazakhstan has made the decision to give you KZT 11 billion extra funds for funding of effortless loans state system for purchasers buying an automobile manufactured in Kazakhstan. System operator has stated a limitation of 50% for the supplied funds or KZT 5.5 million for buyers buying the item of AZIA AVTO JSC plant.

Beneath the continuing state system, 22 models during the price of KZT 2.13 million and much more made by AZIA AVTO vehicle installation plant can be obtained to folks of Kazakhstan. Minimal installment that is monthly the purchasers of automobiles stated in Ust-Kamenogorsk will add up to KZT 31.4 thousand.

In accordance with brand brand new regards to this system, maximum price of the bought automobile was risen up to KZT 9 million.

Other demands for the scheduled system stayed unchanged. Nominal rate of interest should never go beyond 4% p.a., at that yearly rate that is effectiveincluding insurance charges and pledging the car costs) must not meet or exceed 7.5% p.a. Loan term is as much as five years, initial installment is 0-20%, money associated with the loan is KZT.

Why don’t we remember that facile automotive loans system has begun on April 20 this current year. In the stage that is first of system KZT 15 billion had been given to lending to folks from the National Fund of this Republic of Kazakhstan. System funding is of revolving character: quantities paid back because of the borrowers are transited for lending to brand new purchasers of automobiles stated in Kazakhstan.

Eurasian Bank, ATF Bank, CenterCredit Bank, Sberbank Rossii, Halyk Bank and Forte Bank had been the lovers associated with system inside the tranche that is first.

Halyk Bank and Sberbank Rossii has recently started considering applications inside the 2nd tranche. A little later on Bank will join the system.

In line with the information of system operator (developing Bank Kazakhstan JSC) at the time of November 19, 2015, 2 147 away from 3 809 supplied loans or 56% had been provided to AZIA AVTO purchasers in the very first tranche. Over 1 / 2 of the shoppers who have been issued effortless loans chosen KIA, Skoda, Chevrolet and Lada models. Whereby funds restrict given to purchasers of cars manufactured in Ust-Kamenogorsk had been utilized as much as 99.4per cent.

Yerik Sagymbayev, President of AZIA AVTO JSC:

– need of Kazakhstan individuals for affordable loans in KZT is enormous. The restriction reported for AZIA AVTO clients when it comes to very first tranche – KZT 6.8 billion – had been consumed within very very first three days after program’s begin! 17 large number of Kazakhstan individuals arrived to branch affiliates regarding the business. But only 2.1 thousand purchasers of Lada, KIA, Chevrolet and Skoda was able to be awarded a effortless loan.

Additional KZT 5.5 billion gives the opportunity to people who had not been in a position to use the system within final seven months.

BIPEK AVTO – AZIA AVTO number of businesses may be the holding that is largest in the auto market of Kazakhstan created in 1992. The team includes AZIA AVTO automobile construction plant, distributor and dealer businesses which offers and providers the automobiles associated with brands that are following Lada, Skoda, Chevrolet, KIA, UAZ and Renault.

AZIA AVTO JSC (Ust-Kamenogorsk) may be the biggest passenger vehicles maker in Kazakhstan (established in 2002). Leading global teams are the engineering partners regarding the plant: AVTOVAZ JSC, Volkswagen AG, General Motors and KIA Motors.

The automobiles of this following brands are produced at AZIA AVTO JSC facilities in Ust-Kamenogorsk Skoda (Octavia, Rapid, Superb, Yeti), Chevrolet (Aveo, Captiva, Cruze, Malibu, Orlando, Tracker), Lada 4×4, KIA (Carens, Carnival, Cee’d, Cerato, Cadenza, Optima, Mohave, Picanto, professional Cee’d, Quoris, Rio, Sorento, Soul, Sportage).